RET Capital now shares 50% of ownership of its 335MWdc (240MWac) Panoche Valley Solar Farm in San Benito County, California with ConEdison Development (CED). AS CED acquired 50% interest in the project, the New York State-based company will provide construction management, operations and maintenance, and asset management for the project.
The project is situated approximately 140 miles southeast of San Francisco and was initially invested and solely owned by RET Capital.Approximately 1.1 million panels will be installed for the Panoche Valley project, and the construction is scheduled to commence by the end of the year.
“America is steadily increasing its reliance on solar and wind energy, and our company is proud to be playing an increasingly significant role in boosting our country’s clean energy capabilities,” said Mr. Noyes, Senior Vice President and Chief Operating Officer of ConEdison Development.
RET Capital offers innovative and flexible low-cost financing for wind and solar projects. Its business represents the company’s commitment to fighting for a renewable energy system. It is also accelerating the expansion of renewable-correlated investments such as large-scale solar projects.